Two leases totaling 14,143 square feet have been completed at 240 Cedar Knolls, the four-story, 119,587-square-foot, fully renovated Class A office building at the crossroads of the Morristown-Parsippany office corridor in Cedar Knolls, according to a Tuesday announcement from commercial brokerage JLL.
GLT Construction is relocating its New Jersey office within the Parsippany area to 240 Cedar Knolls. The relocation was to accommodate the steady growth GTL has experienced year after year. GTL also has as an office in White Plains, New York.
In addition, p–value communications, a medical communications firm serving the health care industry, signed a new lease for 10,739 square feet of space and extended its existing commitment through January 31, 2027. The company — which has been a longstanding tenant of 240 Cedar Knolls — has reconfigured its space needs to adapt to the changing demands of a hybrid workforce.
Located within the Cedar Knolls Corporate Center, with easy access to Routes 10 and 24 and Interstates 287 and 80, 240 Cedar Knolls houses a diverse roster of tenants. The property is situated on 14 acres of landscaped grounds and recently upgraded amenities to include a full-service café, fitness center with lockers and showers and a conference center.
Renovations carried out by Highstone Equity Group refreshed the building’s common areas to create bright and welcoming space, with onsite management prioritizing tenant comfort and security.
A JLL leasing team led by Executive Managing Director Frank Recine and Vice President Colleen Maguire represented landlord Highstone in the transactions. Recine and Associate Vice President Nicolas DeCotiis represented GLT Construction in its lease, while p-value communications was represented by Senior Vice President Chris Conklin and Brokerage Coordinator Maria Casaliggi, also of JLL.
“These transactions demonstrate the leasing momentum for superior-quality assets with best-in-class ownership,” Maguire said. “Highstone Equity Group has positioned 240 Cedar Knolls to accommodate the needs of new and existing tenants seeking to provide a collaborative environment for tenants.”